definitely; you can use the style attribute to add a style to one specific link, or use any of the selector mechanisms available in CSS to assign styles to a certain group of links.
An example using a class selector:
a.mylink {color: black; text-decoration: none}
in the style sheet and
<a class="mylink" href="foo.htm">Foo</a>
in the page will show this link, and in fact all links using this class, in black without underlining.
An example using an inline style for one specific link: